Appleton Partners Inc. MA reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,173 shares of the company's stock after selling 2,530 shares during the quarter. GE Vernova makes up about 1.2% of Appleton Partners Inc. MA's investment portfolio, making the stock its 22nd biggest holding. Appleton Partners Inc. MA's holdings in GE Vernova were worth $15,012,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of GE Vernova in the 4th quarter worth about $1,109,720,000. Capital International Investors raised its stake in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. GAMMA Investing LLC raised its stake in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. Finally, FMR LLC lifted its holdings in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter.
Analyst Ratings Changes
GEV has been the subject of several recent research reports. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and set a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Citigroup dropped their target price on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. TD Cowen cut their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Susquehanna reissued a "positive" rating and set a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $404.56.
Get Our Latest Stock Analysis on GEV
GE Vernova Price Performance
Shares of NYSE GEV traded down $3.78 during mid-day trading on Friday, reaching $486.41. 4,002,218 shares of the company traded hands, compared to its average volume of 3,269,632. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The firm has a market cap of $132.76 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 3.81 and a beta of 1.97. The stock has a fifty day simple moving average of $425.55 and a 200-day simple moving average of $370.71.
GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company posted ($0.47) EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova's dividend payout ratio is currently 14.41%.
About GE Vernova
(
Free Report)
GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.
Read More
Before you consider GE Vernova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GE Vernova wasn't on the list.
While GE Vernova currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
